Advice From an Expert: Not All Portable Incomes are Created Equal

Humans have been running around this planet for approximately 400,000 years. But Baby Boomers are the first generation of people who, as a group, will be living 20 to 30 years into their “retirement.”

And not just “living” but living healthier and more active lives thanks to medical science and the rapid pace of innovation in successful ageing.

And with these bonus decades, many Baby Boomers are choosing not to “retire” but create a meaningful life and income beyond what we used to consider retirement.

In the 15 years that I’ve been working with Baby Boomers, helping them find their way to a portable income, I’ve discovered the one big advantage Baby Boomers have is the “treasure chest” of skills, knowledge, and wisdom they have accumulated, not just in their career but also in their life.

Most Baby Boomers tend to “forget” that experience. I’ve found that a short conversation will produce a list of at least a dozen items that represent ways they could begin to work online by tapping into something they already know how to do.

But not all incomes are created equal.

As a “retiree”, you don’t want to work at the break-neck pace you pursued in your career…and you don’t want the stress either.

I ran into a Baby Boomer who had retired recently and was now trading currencies. She claimed to be doing well with it but when I talked to her she seemed stressed.

You see trading currencies lacks an essential element that, in my opinion, Baby Boomers need in their post-career career…being of service.

This currency trader was constantly stressed out about worldwide weather patterns, crop yields, interest rates, and political instability because, depending upon what was going on in those areas, she would adjust her trading strategies.

She didn’t have much interaction with other people, she mostly spent her day with her head in her computer screens, looking at charts and graphs and reading news stories.

Contrast this with a schoolteacher I know who does proofreading. On a daily or weekly basis, she is talking to her clients.

She helps them raise awareness about causes she is interested in. She helps a company produce articles about the joys of camping as a family bonding activity. She also helps a nurse create first-aid guides for common playground sports injuries.

Unlike the currency trader, the schoolteacher has a sense of satisfaction in the service that she provides for her clients. She is helping people do good in the world and earning an income on her own schedule.

So, if you’re a Baby Boomer thinking about what you’d like to do with your next 20 or 30 years to make it amazing, you have the choice right now…

You can continue to work a stressful job…or you can take the skills, knowledge, and wisdom you already have and turn that into a portable income that’s fun, easy, and one you can do whenever and wherever you choose.

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